INDIA'S CYBERSECURITY CROSSROADS: HOW CIOS AND CISOS ARE FORTIFYING THE DIGITAL FRONTIER

As Indias digital economy surges past the $1 trillion mark, cyber threats have become more frequent, sophisticated, and devastating. Behind the scenes, Indias CIOs and CISOs are in a relentless battle to protect digital assets, customer trust, and national infrastructure.

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Introduction: India's Digital Boom Meets a New Era of Risk

India's rapid digital transformation, underpinned by initiatives like Digital India, UPI, Aadhaar, and India Stack, has made it a global technology leader. But as the nation integrates more digital services into the lives of its 1.4 billion citizens, the attack surface has expanded dramatically.

In 2024 alone, the Indian Computer Emergency Response Team (CERT-In) recorded over 1.6 million cybersecurity incidents, ranging from ransomware and phishing to nation-state attacks targeting critical infrastructure. With increased cloud adoption, IoT deployments, and 5G roll-outs, India's cyber risk landscape has evolved from reactive to existential.

The Nature of the Threats

1. Ransomware and Double Extortion

Indian enterprises are being hit by sophisticated ransomware attacks where adversaries not only encrypt data but also steal it to threaten public leaks.

“A cyberattack is no longer just a technology failure—it's a complete business breakdown. Ransomware today hits brand, operations, and compliance all at once,” says Anshuman Pund, CISO, YES Bank.

2. Supply Chain Attacks

Third-party vendors have become backdoor vulnerabilities, as seen in attacks on fintech APIs and cloud service providers.

3. Infostealers and Identity Theft

Infostealers—malware that extracts login credentials—are on the rise in India due to low cost and ease of use. Once stolen, credentials are sold or reused for Business Email Compromise (BEC) or targeted account hijacking.

4. DDoS and Critical Infrastructure

Targeting

A recent report by FS-ISAC and Akamai revealed a 245% spike in DDoS attacks on financial institutions in APAC, with India being a major target.

Key Sectors Under Siege

BFSI